GWC delivers 40% growth in net profits for Q1-2015
Gulf Warehousing Company Q.S.C. (GWC), Qatar’s leading 3PL logistics provider, has had a bullish start for 2015, with a strong 40% increase in net profits in the quarter, achieving QAR 40 million by the end of March 2015, as compared to QAR 28.9 million during the same period of 2014. This strong push forward was reflected in the company’s revenue streams, with total revenues peaking at QAR 196 million during the first quarter of 2015, a remarkable 28% increase from QAR 152.9 million for Q12014. Earnings per share rose to QAR 0.85 during this period, marking an increase of 39% compared with the 2014 results of QAR 0.61.The Logistics Village Qatar (LVQ) Phase 5 Expansion is well underway, with tenders awarded and kick-off begun for the two main distribution centers, accommodation, and the masjid will be added. The Bu Sulba Logistics Hub has meanwhile begun site preparation and mobilized for the execution of the construction of the SME-centric facility, which is expected to be completed in the first quarter of 2017. The over half a million square meter logistics site will boast the latest in warehouse and distribution management systems, technology, and facilities optimized for small and medium enterprises and start-ups in the State of Qatar.
GWC’s industry specific Ras Laffan logistics hub continues its expansion as well, with construction already begun for its 15,000 square meter warehouse. The newly developed warehouse will boast 1,500 square meters Hazmat storage area, and a mix of 20 – 50 ton overhead cranes, allowing for bulk, rack, and Hazmat storage in one facility, and will add 1,700 square meters of ISO tank storage facilities for bulk chemical storage and 26,000 square meters of open yard storage. The expansion is expected to be completed in January 2016
“Our path to success has always been paved by backing our comprehensive service offerings with robust infrastructure capable of meeting the nation’s ever growing demands for logistics solutions,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani. “This purpose-driven commitment to operational excellence, support of the Qatar National Vision 2030, and dedication to our shareholders shall assure the best possible returns for all stakeholders in the company,” he added. This commitment to returns is exemplified across all sectors of GWC, as the company works towards a variety of vertical and horizontal expansions to its service line. The company’s contract logistics department has scored major contracts in the medical, cultural, telecommunications, and oil and gas sectors; while the company’s freight department has successfully executed some of its most challenging project logistics operations to date. The records management department’s ability to maintain a 100% client retention rate has boosted its application to receive the ISO 27001:2013 Information Security Management Systems certification, verifying the world-standard service it had been providing all along. GWC Fine Arts has moved forward with its partnership with Constantine UK, adding a 10-ton and 20-ton truck to its fleet of specialized fine art assets, and has executed some of the largest art projects in the country, including the Huna Hunak, Mal Lawal, Shirine Neshat, and Yousef Ahmad exhibitions.
GWC Sports meanwhile participated in one of the major sporting events of the quarter, delivering the logistical requirements for the 24th Men’s Handball World Championship – Qatar 2015. The company performed a wide variety of services, including freight forwarding, customs clearance, venue management, warehousing, work force provision, and equipment handling. The company took every measure to ensure the success of the event, and review with the tournament’s coordinators revealed a 99% satisfaction rate in the management of the event. Beyond its established line-up, the company has begun exploring new service offerings and sectors to support, and has begun the year by announcing that the company will perform equestrian logistics projects in the State of Qatar. GWC Equestrian is an end-to-end solution, transporting horses and their related assets by land and air, as well as offering all related value added services. Among these services will be international airfreight service for the movement of all types and breeds of horses worldwide, quarantine and supervisory services, supervision of customs clearance and tarmac supervision, aircraft charter services, as well as consultancy for the movement of horses. Most recently, the company provided logistics support during the transport of 128 horses for the CHI AL SHAQAB international tournament, ensuring the safety of the animals and the bio-security of all involved during their transport to and from the State of Qatar.
The company has also reinforced its regional presence by establishing a subsidiary wholly owned by GWC (Q.S.C) in the Kingdom of Bahrain, under the name of “GWC Logistics SPC”. The new subsidiary is currently offering chilled, frozen, and dry storage for foodstuffs, as well as distribution within the Kingdom of Bahrain. It joins the Dubai office as the company’s representation in the GCC countries, with Dubai office continuing to expand its operations within the UAE. The GWC Board of Director’s recommitted themselves to providing the vision and direction for the company with the election of the company’s former board members to the board, and adding Eng. Ali Abdul Latif Al Misnad as an independent member during the company’s annual general assembly. The company was also named the “Leading Domestic Logistics Service Provider” for 2015 in a ceremony held by Frost & Sullivan during the GIL Global Best Practices Awards, an awarding body known for bringing together a global network of thinkers, visionaries, and thought leaders to address global business challenges.
“We are privileged that the achievements our company has made and the people we have selected to execute our vision for the company and the industry have been so richly and openly rewarded,” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al Thani. “We will carry on our way in setting the highest standard of logistics offerings in the industry and enduring the company’s position as the service provider of choice in the country and the region,” he added. Gulf Warehousing Company Q.S.C. (GWC) is a Qatari shareholding company and is the leading provider of integrated logistical solutions in the State of Qatar. Established in 2004, the company is in the business of providing high-quality logistics solutions in Qatar and globally. GWC caters to most industry verticals and delivers understanding customers and leveraging its global network. GWC is backed by a team of committed and innovative experts and supported by state-of-the-art storage infrastructure, transport fleet and IT systems.